Common use of Restoration and Abatement of Rent Clause in Contracts

Restoration and Abatement of Rent. If any part of the Premises or the Common Area is taken by condemnation and this Lease is not terminated, then Landlord shall restore the remaining portion of the Premises and Common Area to substantially the same condition in which the Premises and Common Area were immediately prior to such taking, excluding any Leasehold Improvements, Trade Fixtures and/or personal property constructed or installed by Tenant; provided, however, that Landlord shall not be obligated to spend more for such restoration than the amount of any condemnation award recovered by or pursuant to paragraph 12.3. Thereafter, except in the case of a temporary taking, (i) as of the date possession is taken the Base Monthly Rent (but not any Additional Rent) shall be reduced in the same proportion that the floor area of that part of the Premises so taken (less any addition thereto by reason of any reconstruction) bears to the original floor area of the Premises, and (ii) to the extent that Landlord is obligated to undertake any restoration work as a result of such condemnation, the Base Monthly Rent shall be further abated in proportion to the extent to which such restoration work interferes with Tenant's ability to use that part of the Premises which remains after the condemnation.

Appears in 3 contracts

Samples: Lease (United Defense Lp), United Defense Lp, United Defense Lp

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